Your MMM is Broken: Identification of Nonlinear and Time-varying Effects in Marketing Mix Models
营销组合模型的识别困境:非线性与时变效应
Recent years have seen a resurgence in interest in marketing mix models (MMMs), which are aggregate-level models of marketing effectiveness. Often these models incorporate nonlinear effects, and either implicitly or explicitly assume that marketing effectiveness varies over time. In this paper, we show that nonlinear and time-varying effects are often not identifiable from standard marketing mix data: while certain data patterns may be suggestive of nonlinear effects, such…